Philippine President Marcos approved 194 infrastructure flagship projects

The National Economic Development Agency, chaired by President Marcos, recently approved 194 key infrastructure flagship projects, involving an amount of about 9 trillion pesos (about 162 billion US dollars), most of which are irrigation, water supply and flood control projects, as well as digital connection, health, electricity, energy sources, agriculture and other infrastructure projects. The new projects listed in the list include Bannai Railway Project, Mindanao Railway Project Phase III, Northern Long-distance Railway, San Mateo Railway, University of the Philippines - Philippine General Hospital Diliman Hospital Project, Renovation Project of Ninoi Aquino International Airport, South Irogo Inter-basin Water Transfer Project and Grand Cebu Expressway. The sources of funding for the above-mentioned projects will take into account official development assistance, Philippine government grants and public-private partnerships. Of these, 54 projects will be considered for financing in cooperation with the private sector. Balisakan, Director of National Economic Development of the Philippines, said that in order to accelerate the promotion of the above-mentioned projects, the Marcos government is vigorously promoting public-private partnerships as financing channels. The government should make full use of the financial and technical resources of the private sector, so that the public sector can increase its investment in human capital development, especially to address the impact of the epidemic on the health and education sectors, and provide targeted assistance to vulnerable areas vulnerable to economic shocks.